Grifols AIt exceeds 179% its results in the first quarter of 2025. Specifically, the Catalan Hemodevados Company elevates its net profit to 60 million of euros until March this year, compared to the 21 harvested in the same period of the previous year.
These results, according to the company, are above the planned plan, contributing to reach record results in the main financial metrics of the last twelve months (LTM). The company continues to focus on the execution of its strategic plan and reaffirms its forecasts or guides (Guidance) for exercise 2025.
While, Total income amounted to 1,786 million euros, with a 7.4% growth CC (that is, in operational and constant currency) and 10.0% CC LFL.
Biopharma revenues reached 1,521 million euros, with an increase of 6.6% CC and 9.6% CC LFL compared to the same period of the previous year. This growth was mainly driven by the increase in the income of the immunoglobulin franchise (IG), with an increase of 13.2% CC and 17.5% CC LFL (in comparable terms), especially highlighting the impulse both in IVIG (+13.5% CC LFL) and in SCIG (Xembify®) (+98.9% CC LFL).
Albumin sales decreased by 9.4% CC and 8.9% CC LFL Due to a planned process of renewal of the medication import license in China. This renewal, which has already been completed successfully, generated a temporary delay (Phasing) during the first quarter of 2025, although shipments have already been resumed in accordance with the provisions.
Income from Alfa-1 and Speciality Proteins continue to evolve favorably, with a growth of 1% CC and 2.3% CC LFL compared to the previous year. The growth of Alfa-1 was partially compensated by the Phasing of the anti-groom immunoglobulin.
Diagnostic revenues grew 5.2% CC up to 170 million euros. This evolution was driven by the growth of Molecular Donor Screening (MDS) out of the US, the growth of the Immunassay business volume and the expansion of blood typaje solutions (BTS) in the main Grifols markets.
The gross margin in the first quarter of 2025 stood at 38.9% reported and at 40.3% LFL. The gross benefit reported includes the impact of anger and the reclassification of service fees, as well as lower albumin and anti -rabies sales. Despite this temporal impact, in comparable terms, the gross benefit increased by 150 basic points with respect to the first quarter of 2024.
The adjusted Ebitda grew to 400 million euros, with a margin of 22.4%, and an increase of 14.2% CC and 21.7% CC LFL. The reported Ebitda grew by 22.6% CC up to 381 million euros, with an improvement of the margin of 220 basic points up to 21.3%. This demonstrates the continuous advances in the convergence between the Ebitda reported and the adjusted.
Free cash flow before mergers and acquisitions in the first quarter increased by 209 million euros Regarding the same period of 2024, mainly driven by the improvement in circulating capital management throughout the supply chain and the expansion of the EBITDA.
In the first quarter of 2025, The Net Financial Debt and Financial Debt – As defined in Credit Facilites – They were 4.5x and 8,149 million euros, respectively, with a solid liquidity position of 1,675 million euros. Unlike previous years, when the first quarter used to register an increase in leverage, in the first quarter of 2025 said ratio was reduced, which shows the solidity and normalization of Grifols operational performance.
For Nacho Abia, CEO of Grifols«Starting from our record results in 2023 and 2024, the first quarter of this year confirms that we continue to move forward while executing our strategic plan. The solid demand in Biopharma, along with a good performance in the rest of our business areas, and a good operational execution, positions Grifols to continue maintaining sustained growth in 2025. Although we continue to observe the evolution of the macroeconomic and political context, our long -term strategy – based on a strong local presence in our main markets, with regional self -sufficient and integrated plasma ecosystems vertically – allows us to be in a better position to deal with the global market challenges. «